It's 930amET, Do You Know Where Your Gold Slammer Is?

Right on time, a heavy volume seller struck the precious metals complex right as the US equity market opened...

 

 

Of course the real driver of this is the JPY-pair that is pumped higher to juice the equity open...

 

And Silver was slammed back below $17.00...

Comments

Justin Case YUNOSELL Tue, 11/28/2017 - 10:58 Permalink

less and less effective. as of 10:53 back in positive territory, up $1.64.They can manage the price short term but they can't keep it down. The market is bigger than they are. Gold was $32.00 at one time. In 1984 it was $285.00 and today it's almost $1,300.00 So they can play with it only short term. It's time tested asset that will never go to zero. I don't sweat the daily moves. I got in at $284.00/oz. Up down $20, meh.

In reply to by YUNOSELL

YUNOSELL ParticularlySt… Tue, 11/28/2017 - 10:31 Permalink

Because the big banks (with massive short positions) keep hammering down the price and therefore convincing the masses that gold and silver will not rise and are therefore not a good investment, so therefore people believe this is the market price. If the big banks did not keep hammering, gold and silver would continually increase much the same as Bitcoin has been doing and that would signal the end to their fiat dollars.These videos are the best thing you can watch to see how the manipulation takes place. Rob Kirby explains this very clearly. It is very enlightening:https://www.youtube.com/watch?v=kwZqIl17v_Yhttps://www.youtube.com/watc…

In reply to by ParticularlySt…

macdavy YUNOSELL Tue, 11/28/2017 - 12:37 Permalink

Its is the ending now, they lost, they smashed it and bounces back now, alot of people want out of Fiats, thus bit coin, but the average person dons t understand or trust it, and it appears very bubbly so they think they missed it. Seeing that gold barely moves on the dumps, and is still at a low price from eight years ago this may signal a surge of people back in, one world event, bank collapse etc and the dam burst.

In reply to by YUNOSELL

bobsmith5 macdavy Tue, 11/28/2017 - 13:28 Permalink

If you look at a long term silver chart you will see that we are exactly where we were in 2008, where almost ten years now silver has been held in a tight trading range of right around 17 dollars. It started the 50 dollar spike around June 30, 2010 and by Sept of 2014 they had it right back into the 17 dollar area and it has been held there ever since.

Until we break of of this long term channel ranging from 15 to 20 dollars, absolutely nothing will change. It's anyone's guess when that will happen. I suspect that it may start to break out after the FED raises rates around the middle of next month, or at the latest around the first of January.

What kind of spike we get and how powerful determines if we can break out above that channel and stay there into the summer and fall of next year. Unless this winter/spring break out is extremely powerful, we will be pushed right back into the long term channel once again by June of next year.

In reply to by macdavy

Justin Case ParticularlySt… Tue, 11/28/2017 - 11:22 Permalink

The miners have bills to pay and need cash flow for operations. I only know one miner that is in good enough financial shape that withholds it's sales as much as possible at times when the price is low. When the price drops the miners process the higher grade ore and when the price is high they process the low grade ore. When metal prices skyrocket, there is no moar metal coming to market then when prices are low.

In reply to by ParticularlySt…

BobEore BaBaBouy Tue, 11/28/2017 - 10:40 Permalink

Err...

Meanswhile... gold EXPLODES higher in Turkish lira... up 1.57 % ///on the Day.

Cue my new stalker to come in an ream me out for bein up...
wait, lemme recalc since last weeks figure is now outta date...

149% since buy in ... 7 years back.

Down with your panties Yoga Boy... u is gonna be soooo
sore y u messed with the wrong guy you piece of shit.

Paging Downwithyogapants. Drop em/

In reply to by BaBaBouy

BobEore ParticularlySt… Tue, 11/28/2017 - 11:15 Permalink

Carry trade huh?

Yu exceptionaist merikans are a piece o work.

The only 'carry trade' I'm interested in or involved with in the carrying the real metal to a real gold dealer if'n and when'n I need some fake paper to exchange with fools who don't know what gold is worth.

It's impossible for you to understand this - I realize - but for the general record...

this is NOT america. This is not even the western hemisphere. Not a real market ...

I was gonna hire "pants" for a stage dummy assistant... but you are even more fun. Run it by me again my good man...

"not a real market." No clue. None.

In reply to by ParticularlySt…

seek tmosley Tue, 11/28/2017 - 10:25 Permalink

Crypto doesn't break banks.Trust (more specifically, the lack of it) breaks banks. We had a nice trial run 9 years ago. When the banks don't trust each other suddenly gold does great, since it's the cornerstone asset. What'll be interesting is how cryptos react when the next event happens, since the blockchain makes auditing -- and therefore trust -- trivial.My gut feeling is if the banks ever do adopt crypto under such circumstances, it's their own (e.g. a CB coin) that will support features like inflation and the ability to kill specific coins (homogenity be damned, they want to be able to enforce sanctions.) Much as it would be lovely for Ethereum or BTC to be the beneficiary, the bankers have an established record of thousands of years of using any crisis to increase their power, not diminish it.

In reply to by tmosley

tmosley seek Tue, 11/28/2017 - 10:39 Permalink

Crypto is all about a lack of trust.When trust is gone, are you going to magically find some again and trust that the gold or silver coins you get in the course of your daily life are real, rather than high quality Chinese fakes? Are you going to train a workforce how to do the appropriate tests? Are you going to trust them not to steal from you?I don't think so. Crypto presents a POS system that WORKS. No trust required.

In reply to by seek

bobsmith5 seek Tue, 11/28/2017 - 13:40 Permalink

To me the crypto's are doing that right now. They are showing me that people do not trust the banks nor their fiat. They are doing exactly what PM's would be doing if it were not for the massive fake paper PM/computer algorithm suppression.

In reply to by seek

wisebastard Tue, 11/28/2017 - 09:51 Permalink

oh shit....i called ZH out on the one minute charts and they bumped it up to the two minute charts......fuck you ZH....look at the daily bitches...it aint fucking moved.....its a fucking doji

kill switch Tue, 11/28/2017 - 09:51 Permalink

I love it when I go to Kitco and it has a data screen saying the MARKET IS OPEN,,,,HAHAHAH You are wrong my little fellows at Kitco it's the racket is open.

silverer Tue, 11/28/2017 - 09:52 Permalink

Thanks for the bargains, suckers. This time, the minority of smart folks that know what real money is will front run the banks for a change.

Traderone Tue, 11/28/2017 - 09:52 Permalink

Nice stop run in the ES just above the Globex high just now. The machines can do that when there is NO FUCKING VOLUME about the place. A difficult market to trade these days.